GST rollout to mark an unprecedented reforms measure in the modern global tax history Economic Survey 2015-16 proposes widening tax net from 5.5 percent of earning individuals to more than 20 percent, reasonable taxation of the better-off individuals with income from Real Estate and Agriculture, phasing out of the tax exemption Raj Higher Property… Read More »
FTAs leading to increased Imports and Exports Since the mid- 2000s India’s Free Trade Agreements have doubled to about 42 today. They have increased trade with FTA countries more than would have happened otherwise. Increased trade has been more on the import than export side, because India maintains relatively high tariffs and hence had larger… Read More »
2015 – Landmark Year for India in Climate Change Initiatives: Economic Survey 2015-16; India plays important role in adoption of Paris Agreement and Launch of International Solar Alliance Economic Survey 2015-16 tabled in Parliament here today by the Union Finance Minister Shri Arun Jaitley states that the year 2015 has been a landmark year for… Read More »
Economic Survey 2015-16 highlights need for more investment in Human Capital, expresses concern at declining educational outcomes, emphasizes importance of improving efficiency in delivery of services in the health sector. The Economic Survey 2015-16, presented in the Parliament today by the Union Finance Minister Shri Arun Jaitley, states that the social infrastructure scenario in the… Read More »
Labour Force participation Rate higher in Rural Areas than Urban Areas, significantly lower for females than males: Economic Survey Women account for 57% of employment given under MGNREGA in the Current Financial Year 1.75 lakh Rural Youth trained under Deen Dayal Upadhyaya Grameen Kaushalya Yojana during 2015-16 The Economic Survey (2015-16) states that the… Read More »
116334.85 MT seized pulses released in markets Delivery of 8,500 MT imported pulses is expected shortly The rise in the prices of pulses is due to several factors leading to demand & supply mismatch. Hoarding is one such factor. De-hoarding operations are carried out by the State Governments under the Essential Commodities Act, 1955. All… Read More »
Ensuring good quality AYUSH Drugs to people is topmost priority of the Government: Shri Shripad Naik ‘The Indian Medicine and Homoeopathy Pharmacy Central Council Bill, 2016’ circulated for Inter-ministerial appraisal and consultations with states: AYUSH Minister The Union Minster of State for AYUSH (Independent Charge) and Health & Family Welfare Shri Shripad Yesso Naik has… Read More »
Procedure to be followed by banks while opening accounts of foreign students (a) Banks shall, at their option, open a Non Resident Ordinary (NRO) bank account of a foreign student on the basis of his/her passport (with visa & immigration endorsement) bearing the proof of identity and address in the home country together with a photograph… Read More »
These Directions shall be called the Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016. Click for complete Directions : Know Your Customer (KYC) Direction, 2016
Source Reserve Bank of India RBI/2015-16/330 DBR.BP.BC.No.82/21.04.132/2015-16 February 25, 2016 All Scheduled Commercial Banks (excluding RRBs) All-India Term-lending and Refinancing Institutions (Exim Bank, NABARD, NHB and SIDBI) Dear Sir, Review of Prudential Guidelines – Revitalising Stressed Assets in the Economy The Reserve Bank of India has issued various guidelines aimed at revitalising the stressed assets… Read More »